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Official Gazette

Saturday, July 4, 2020
Tags: 2015 Civil Code
Shaping a legal framework for cryptoassets in Vietnam Shaping a legal framework for cryptoassets in Vietnam
For the time being, there has been no unified definition of “cryptoasset” or “digital asset” or “virtual asset” in the world. According to the Financial Action Task Force (FATF), a global money laundering and terrorist financing watchdog, “a virtual asset is a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes.”[1] Canada’s model legislation regarding digital assets, the Uniform Access to Digital Assets by Fiduciaries Act, defines “a digital asset” as “a record that is created, recorded, transmitted or stored in digital or other intangible form by electronic, magnetic or optical means or by any other similar means.”[2] Cryptocurrency (or virtual currency) is a form of cryptoassets (or virtual assets). There is also no unified definition of this term in the world.
Validity of liquidated damages clause under Vietnams Law Validity of liquidated damages clause under Vietnam’s Law
Liquidated damages is one of the important remedies that are widely known in various types of contracts. However, the validity of liquidated damages clause is still an uncertain thing under Vietnam’s law, giving rise to a number of disputes over this clause when being applied in Vietnam.
COVID-19 and the issue on exemption of civil liability for breach of payment obligations under loan agreements COVID-19 and the issue on exemption of civil liability for breach of payment obligations under loan agreements
Under the scope of this article, the authors concentrate on force majeure to excuse civil liability under the laws of Vietnam, and the issues relevant to the implementation of loan agreements in the context of COVID-19.
Penalties for breach of construction contracts Penalties for breach of construction contracts
In the context that there are different regulations of the Civil Code, the Commercial Law and the Construction Law regarding the maximum amount of penalty for breach of construction contract, this article will discuss about two legal issues: (i) principles for resolution of the conflict of laws that regulate construction contracts between the Civil Code, the Commercial Law and the Construction Law and (ii) the maximum amount of penalty for breach of construction contracts (including both state-funded construction works and private construction works).
Security over deposits Security over deposits
In practice, deposits at banks are used as security a great deal. However, the legal framework applicable to that kind of property remains unclear. This article tries to give an overview of the applicable provisions regarding security over deposits and to suggest how to properly construe and improve them.
First-instance jurisdiction to try commercial legal persons in Vietnam First-instance jurisdiction to try commercial legal persons in Vietnam
First-instance jurisdiction to hear criminal cases where defendants are commercial legal persons is determined by the reason of the matter involved, the person concerned or the place. This article analyses the 2015 Criminal Procedure Code’s provisions on the penal liability examination procedures and first-instance jurisdiction to try commercial legal persons and propose revisions to Vietnam’s current criminal procedure law in this regard.
Regulations on online ads - inadequacies and suggestions for improvement Regulations on online ads - inadequacies and suggestions for improvement
Online advertising has proven to be a trendy choice of businesses. Revenue of Vietnam’s online advertising market mounted to USD 76 million in 2017 and is forecast to increase by three folds in the next five years. However, there remain several limitations in the law regulating Internet advertising such as regulations on protection of interests of online customers, foreign traders’ right to run online advertisements, advertising of some special goods, products and services, management of new types of advertising, and competence for state management for online advertising.
State Bank steps up fight against black credit State Bank steps up fight against “black credit”
In January 2019, local media reported that Le Dinh Huu Phuoc, a 55-year-old man in the Central Highlands province of Gia Lai, was beaten to death by a group of gangsters for failing to fully pay his nephew’s debt.
Adoption of foreign children by Vietnamese Adoption of foreign children by Vietnamese
As per the Vietnamese law on child adoption, a child’s blood aunt may adopt him/her while his/her grandparent may not (Article 13.6 of the 2010 Law on Child Adoption.
How to change personal names How to change personal names
According to Article 28.3 of the 2015 Civil Code, the change of a person’s name will neither change nor terminate the civil rights and obligations which have been established under his/her former name.

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